Equity
€90,912 from €203,655 in 2022
Equity fell by 55% in 3 years.
Smartchim
Lifetime
10 annual accounts with figures on one time axispeak €762,597 (2024)
€733,345▼ 3.8%
lowest -€120,702 (2023)
€10,998▲ €14,037
peak €203,655 (2022)
€90,912▲ 13.8%
€2.2m▼ 27.0%
peak 7 FTE (2024)
6.3 FTE▼ 10.0%
Board2 names since 2010
1 directorHEGO
Owners3 names in the annual accounts
Documentsfilings and deeds
11-05-202620 days before the deadline
2025abbreviated format
Back to profit: €10,998Staff from 7 FTE to 6.3 FTEEquity from €79,914 to €90,912Debts from €3.0m to €2.2m
Key points
from the 2025 annual accountsDebts
€2.2m 96% of the balance sheet
Financial debts 24%Suppliers 9%Taxes and wages 4%Other 63%
€1.4m of the debts are secured on the company's own assets.
Investments
€16,458 0.1 × depreciation
Green is investment, beige is depreciation. Machinery stands 93.6% higher than in 2024.
Staff
5 employees on 31-10-2025
In 2025, nobody joined and 2 people left.
Filings
10 annual accounts 6 late
The 2019 accounts came latest: 56 days after the end of the period.
Position in the sector
3.9%
Lower solvency than 84% of companies in chemicals. Sector median 48.4% · 147 companies.
Checked score
66
Healthy
Financially stronger than 41% of micro companies in chemicals (NACE 20)
Probability in this band: 0.55% to 1.5%
Bankruptcy probability within 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.5% across 356 companies (NACE 20, micro).
About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.8%lowest value
01-2025: 0.9%▲ +0.1 percentage points vs 12-2024
02-2025: 1.0%▲ +0.1 percentage points vs 01-2025
03-2025: 1.0%● unchanged vs 02-2025
04-2025: 1.4%▲ +0.4 percentage points vs 03-2025
05-2025: 1.5%▲ +0.1 percentage points vs 04-2025
06-2025: 1.2%▼ -0.3 percentage points vs 05-2025
07-2025: 1.2%● unchanged vs 06-2025
08-2025: 1.2%● unchanged vs 07-2025
09-2025: 1.2%● unchanged vs 08-2025
10-2025: 1.2%● unchanged vs 09-2025
11-2025: 1.2%● unchanged vs 10-2025
12-2025: 1.2%● unchanged vs 11-2025
01-2026: 1.4%▲ +0.2 percentage points vs 12-2025
02-2026: 1.5%▲ +0.1 percentage points vs 01-2026
03-2026: 1.5%● unchanged vs 02-2026
04-2026: 1.6%▲ +0.1 percentage points vs 03-2026
05-2026: 1.7%▲ +0.1 percentage points vs 04-2026highest value
06-2026: 0.9%▼ -0.8 percentage points vs 05-2026
07-2026: 0.9%● unchanged vs 06-2026
08-2026: 0.9%● unchanged vs 07-2026
09-2026: 1.0%▲ +0.1 percentage points vs 08-2026
10-2026: 0.9%▼ -0.1 percentage points vs 09-2026
11-2026: 0.9%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Equity €90,912 (3.9% of total assets)
Size: 6.3 FTE, total assets €2.3m
lowers risk
Figures for financial year 2025 (filed on 11-05-2026)
Founded in 2015
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 20, micro). It does better than 26% of them on solvency, 19% on liquidity, 40% on profitability and 79% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-10-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,375 companies had the same profile as Smartchim has now. Each dot stands for 4 companies, two years later.
95.9%
were still trading
1.6%
stopped another way
2.2%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Smartchim itself: 0.9% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,375 companies, not a prediction for Smartchim. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €6,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.81 (0.86 in 2024), below 1. Short-term debt is 72.2% and cash 6.3% of total assets. 96.1% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 147 sector peers (2025).
NBB · sector comparisonPosition among 147 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-10-2025 was due by 31-05-2026 and was filed on 11-05-2026, 20 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
20 days early
2024
16 days early
2023
25 days late
2022
8 days early
2021
29 days early
2020
30 days late
2019
56 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 5 days after the deadline. In the sector (NACE 20), the median for financial year 2024 was 22 days before the deadline, and 26% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 31-10-2026 is due by 31-05-2027. Nothing is late today. The company usually files around 15 May (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
31-10-2026 year end09-11-2026 today31-05-2027 deadline
Board and ownership
- GORS DEVELOP 100%equity €837,429 (2022) · 2022 annual accounts of GORS DEVELOP
- CF GROUP BENELUX 51%score 81equity €3.0m (2025) · 31-10-2025 annual accounts of CF GROUP BENELUX
- HEGO 49.46%equity €1.0m (2025) · 2025 annual accounts of HEGO
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0643883822
New director
HEGO BV appointed, GORS DEVELOP BV resigned · Permanent representative: Heylen Ingrid · Director discharge: GORS DEVELOP BV (director (not named in the articles)) · General meeting of 29-12-2023 · Gazette deed
Registered office moved from Weelde to Beerse
New registered office: Lilsedijk 12, 2340 Beerse · Previous registered office: Toekomststraat 2d, 2381 Weelde · General meeting of 09-12-2021 · Gazette deed
New director
GORS DEVELOP appointed, GORS DEVELOP resigned · Permanent representative: HEYLEN Ingrid Leonie Pieter · General meeting of 28-10-2021 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Smartchim Beerse | €2.3m | €0.7m | 3.9% | 6.3 |
| Circle Chemicals Fleurus | €1.6m | €0.4m | 21.7% | 3.9 |
| ADDITEX Mouscron | €4.6m | €0.8m | 55.4% | 3.9 |
| KRECO SORTING AND REFINING Lummen | €3.3m | €1.2m | 29.8% | 6.6 |
| ELEKTRION1907 Courcelles | €2.4m | €0.2m | -33.1% | 4.2 |
| D-CRBN Antwerp | €2.0m | €0.1m | -40.7% | 7.8 |
| BIOTOP Welkenraedt | €1.8m | €0.5m | 41.7% | 5.8 |
These companies have the same main activity as Smartchim: manufacture of chemicals and chemical products (NACE 20130). They are comparable in size and age: total assets between €1.6m and €4.6m, founded between 1996 and 2021.
Official details
Source: KBO- Status
- Active since 07-12-2015Normal situation
- Activity
- Manufacture of chemicals and chemical productsNACE 20130and 4 others
- Joint committees
- 207White-collar workers in the chemical industry
- 116Chemical industry · annual accounts 31-10-2025
- Establishment unit
- 2.307.799.6502340 Beerse, since 01-01-2020
- Financial year end
- 31 October
- Peppol
- Reachable since 03-11-2025
Annual accounts to 31-10-2025
- ≈ €1.7mestimated
- €2.3m▼ 26.0%
- Employeeson 31-10-2025
- 5▼ 28.6%
- Filing
- Filed on 11-05-2026, 20 days before the end of the filing period
Insights on Smartchim
Smartchim files the abbreviated format. That format states no turnover. The gross margin rose from €84,286 in 2016 to €733,345 in 2025.
GORS DEVELOP holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Smartchim
- What is the company number of Smartchim?
- The company number of Smartchim is 0643.883.822. The VAT number is the same number with BE in front: BE 0643.883.822.
- Where is Smartchim based?
- The registered office is at Lilsedijk 12, 2340 Beerse.Company details
- What does Smartchim do?
- According to the KBO register, the main activity is manufacture of chemicals and chemical products (NACE 20130).
- What is the legal form of Smartchim?
- Smartchim is a private limited company (BV).
- When was Smartchim founded?
- Smartchim was founded on 07-12-2015.
- Is Smartchim still active?
- Yes, Smartchim is an active enterprise in the KBO register.
- How many employees does Smartchim have?
- Smartchim had an average of 6.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does Smartchim fall under?
- In its 31-10-2025 annual accounts, Smartchim states joint committees 207 (White-collar workers in the chemical industry) and 116 (Chemical industry).
- What is the turnover of Smartchim?
- The turnover in financial year 2025 is ≈ €1.7m. This figure is estimated from the gross margin of €733,345 and 2,275 comparable companies of the same size. It probably lies between €1.0m and €2.9m. It is a rough estimate.
- Is Smartchim profitable?
- In financial year 2025, Smartchim made a profit of €10,998.
- Where can I find the annual accounts of Smartchim?
- Smartchim filed 10 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Smartchim due?
- Smartchim must file the annual accounts for financial year 2026 by 31-05-2027.Timeline
Next steps
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